A day after reelection to his position, House Speaker John Boehner (R-OH) signaled he would insist on a dollar-per-dollar match between new spending cuts and borrowing, as President Barack Obama and Republicans head toward another clash concerning the debt ceiling.
Treasury Secretary Timothy Geither announced the country has already hit its $16-trillion debt ceiling, which means Congress must agree to raise the limit within the next two months or risk default.
According to the Los Angeles Times, Boehner told Republican members in a closed-door meeting on Friday, the first day of the 113th Congress, that, “with the cliff behind us, the focus turns to spending.”
“The president says he isn’t going to have a debate with us over the debt ceiling,” Boehner said, according to a source. “He also says he’s not going to cut spending along with the debt limit hike.”Continue reading on www.breitbart.com